Aborted sale, no more offers, what next?

pezos

Hello,

I put my flat up for sale in London some 3 months ago, and realised that the market was taking a nose-dive so dropped the asking price massively to get ahead of the competition. To some extent this worked and I got some goodish offers. I accepted the best and for the past month or so the sale has been with the solicitors. Turns out that the buyer was not serious and has pulled out. The property is now back on the market but the agent has nothing more lined up and tells me they have exhausted their contacts. What should I do? I think it is still well priced but wonder about going multi agent to drum up more business or if this is just a knee jerk reaction. Any advice would be most welcome. Thanks

Eric1

as a buyer, I would prefer sellers to reduce the asking price by £100 rather than spend it on pointless marketing gimmicks. As long as it is on Rightmove, you should be OK.

BitterAndTwisted

Get your agents to contact the previous bidders and see if they're still interested. Not all of them will have found their perfect alternative property and be in the process of buying it.

myhouse_2

Well done for trying to get ahead of the market - good strategy in my opinion as the other route can often cost more and cause much more stress.
Sorry you didn't get it sold in this case - is your price still competitive or did your competition drop their price too? Remember that you're also competing with what buyer's can afford now due to difficulty in getting mortgages. Might be time to drop price again - even by a little bit to stay ahead and try to get viewings. How's the feedback been from anyone who's been viewing so far?

RedTomato

So long as your agent is on Rightmove and is an agent who puts up full details on there, such as floorplans, all pictures, probably not much point changing. I've noticed a big difference between the quality of listings on Rightmove. What part of London are you in?

pezos

Hi Red Tomato

The flat is in Ealing. Don't really have a problem with the agent per se. I think they're probably doing all they can. They say they will put it back in the paper. I personally used findaproperty almost exclusively when I was looking and didn't take much notice of which agents were being used. I suppose I'm looking for some tips on what I can do that I'm not already doing to drum up some more interest. Maybe there is nothing more that can be done!?

Eric1

pezos wrote: »

I suppose I'm looking for some tips on what I can do that I'm not already doing to drum up some more interest. Maybe there is nothing more that can be done!?

Search rightmove or findaproperty for similar properties near you, within a small distance from your postcode. Look at your competitors, look AT what they are doing to attract buyers - price, presentation, etc - and try to make your listing better.

RS89

Hi,

Do you have a link to your flat?

I am looking in Ealing and have exhausted pretty much all properties!

R

sinbad182

Ive literally just bought a flat in ealing, would be interested to see what the place you are selling is like! There seemed to be a fair bit of ok stock in the area, but very little eye catching stock.

hazyjo

If yours isn't selling and others are, you need to ask the agent for honest feedback - or what they suggest you do to improve your property.

Is it on rightmove? (Sorry to ask again, but it's not been confirmed yet.)

Happy to give an honest opinion too if you want to put up a link.

Jx

pezos

Hi All,

I think perhaps I'm just being a little impatient. The agent tells me that very little is moving and buyers are pulling out of sales in the hope that they can find something cheaper. The thing is that I and everyone else can only drop the price so much before it becomes a pointless sale. Have just dropped it again!

J. The property is is on rightmove and find-a-property etc., and is the only period flat in it's area at the price. I can't myself believe how cheap I've made it! The market must be really depressed. It's cheaper now than offers I was getting only a few weeks ago.

RS89. It is on find a property, listed in W5 3RL ref: : 7305833

Thanks